In the books of a Company Cost Sheet for the period ended…….. Units Produced….. Name of the product unit sold…. Particulars Total cost Rs. Unit Cost Rs. Opening stock raw materials Add Purchases of Raw Materials Add: Expenses on Purchases of Raw Materials (octroi & duty) Less: Closing stock of raw materials Less: Sale of scrap or defectives of raw materials = Cost of materials consumed Add: Productive Labour Add: Outstanding wages Add: Direct Expenses( architect’s
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CONFIDENTIAL AC/OCT 2010/ACC116/165/211 UNIVERSITI TEKNOLOGI MARA FINAL EXAMINATION COURSE COURSE CODE EXAMINATION TIME INTRODUCTION TO COST ACCOUNTING / COST ACCOUNTING ACC116/165/211 OCTOBER 2010 3 HOURS INSTRUCTIONS TO CANDIDATES 1. 2. 3. This question paper consists of five (5) questions. Answer ALL questions in the Answer Booklet. Start each answer on a new page. Do not bring any material into the examination room unless permission is given by the invigilator. Please check to
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by the intersection of the firm’s marginal cost and the market demand curve). As usual‚ the monopoly determines its optimal output on the basis of MR = MC. Here‚ however‚ it cannot charge a price in excess of p*. So‚ for any output less than Q(p*) (where Q(p) is the demand function) its marginal revenue is p*. On the graph below that gives: pm p* MR MC Demand q m q * 2) The inverse demand curve a monopoly faces is p=10Q-1/2. The firm’s cost curve is c(Q) = 10 + 5Q. Find the
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the magnitude of the benefits that this would bring. Economic efficiency requires a balancing of benefits and costs at the margin. However‚ the statement would be consistent with economic efficiency if clean up/prevention costs were always zero‚ or damages were always infinitely large‚ or more generally if long run marginal benefits of abatement were greater than the long run marginal costs of abatement over all levels of abatement up to the point where pollution is entirely eliminated. 2 ‘A clean
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(Both labor and capital are in LR formula.) TFC =Total Capital Costs = rK Here “r” represents the “capital costs over the specified time period for 1-unit of capital K.” TC = wL + rK‚ w = wage rate paid to each laborer (per time period)‚L = number of units of labor used (in that time period)‚r = capital costs paid for each unit of capital (per time period)‚K = number of units of capital used (in that time period). Costs = f(Q). Q = f(L). Costs = f(Q(L)). Q=AP*L‚ MP equals AP‚ at highest AP. Whereas
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behaviour of the problem and decision science uses the tools of 3 Identify the areas of decision making where managerial economics prescribes specific solutions to business problems 4 Write short notes on the following: a) Opportunity cost Opportunity cost or also known as the
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Name: Shashwat Mittal Class: III C Roll No.: 10/127 Tutorial Group: C14 PUBLIC ECONOMICS ASSIGNMENT 1 AND 2 Assignment 1 44. Two categories of public goods are non-rival consumption goods and non-excludable goods. Discuss the similarities and differences between these two types of goods. If a good is non-rival in consumption‚ does that mean that it is also non-excludable? If a good is non-excludable‚ does that mean it is non-rival in consumption? Why might the market produce non-rival goods
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Multiple Choice Questions 16. Which terms would make the following sentence true? Manufacturing companies that benefit the most from activity-based costing are those where overhead costs are a _________ percentage of total product cost and where there is ___________ diversity among the various products that they produce. A) low‚ little B) low‚ considerable C) high‚ little D) high‚ considerable 17. Would factory security and assembly
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Cost Accounting: A Managerial Emphasis‚ EXHIBIT 11-1 Accounting Information and the Decision Process FIVE-STEP SEQUENCE Step 1: Gathering Information AN ILLUSTRATION The current manufacturing line uses 20 employees‚ 15 operating machines‚ and 5 handling materials‚ for a total cost of $640‚000. The rearrangement of the manufacturing assembly line is expected to eliminate materials-handling costs‚ equivalent to $160‚000. The cost of the rearrangement will be $90‚000. Historical
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Street Journal. Cost Management and Strategy – refer to your assigned questions and problems Cost Drivers and Basic Cost Concepts -- What is a cost? Define cost pools. What is a cost object? cost assignment? Contrast a direct cost with an indirect cost. Define cost allocation. What is an allocation base? Contrast cost assignment with cost allocation. What is a direct material? Direct labor? Indirect material? Indirect labor? factory overhead? What are conversion costs? Prime costs? What are the
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